Daily Gold News: Monday, Aug. 30 – Gold Above $1,800 Again Following Powell’s Dovish Speech – Yahoo Finance

This post was originally published on this site

The gold futures contract gained 1.35% on Friday, as it broke above its recent local high of around $1,812 following a dovish speech from the Fed Chair Jerome Powell at the Jackson Hole Symposium. On Wednesday and Thursday the market retreated below $1,800 level again, but it was just a short-term weakness. Gold is now trading along $1,820 price level. This morning the yellow metal is basically at the Friday’s daily closing price, as we can see on the daily chart (the chart includes today’s intraday data):

Today gold is virtually flat right now, as it is trading below the $1,820 price level. What about the other precious metals? Silver is 0.5% higher, platinum is 0.2% lower and palladium is 1.6% higher. So precious metals’ prices are mixed this morning.

Friday’s important Core PCE Price Index release has been as expected at +0.3% m/m, but the Personal Income/ Personal Spending releases have been mixed. Today we will get the Pending Home Sales release at 10:00 a.m. The markets will be waiting for Friday’s monthly jobs data announcement. And tomorrow we will have the CB Consumer Confidence release.

Below you will find our Gold, Silver, and Mining Stocks economic news schedule for the next two trading days:

Monday, August 30

  • 10:00 a.m. U.S. – Pending Home Sales m/m

  • 9:00 p.m. China – Manufacturing PMI, Non-Manufacturing PMI

  • All Day, U.K. – Bank Holiday

Tuesday, August 31

  • 8:30 a.m. Canada – GDP m/m

  • 9:00 a.m. U.S. – HPI m/m, S&P/CS Composite-20 HPI y/y

  • 9:45 a.m. U.S. – Chicago PMI

  • 10:00 a.m. U.S. – CB Consumer Confidence

  • 9:30 p.m. Australia – GDP q/q

  • 9:45 p.m. China – Caixin Manufacturing PMI

For a look at all of today’s economic events, check out our economic calendar.

Paul Rejczak
Stock Selection Strategist
Sunshine Profits: Analysis. Care. Profits.

* * * * *

Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits’ associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits’ employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

This article was originally posted on FX Empire

More From FXEMPIRE:

This post was originally published on *this site*